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Casualty

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Casualty insurance is a wide term that is used to cover insurance which is not covered by other insurance policies. It also covers accidents and damages which are caused by omissions and negligence. One of the most common casualty insurance covers automobile accidents which may involve the driver, passengers and others who are injured at or near the scene of the accident as well as property damaged. Casualty insurance will cover a 'no fault' driver…
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Property

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Property insurance is a general term that covers a wide range of losses which include damage, fire and theft to any type of property. Property insurance may cover specific insurances such as-: - Fire insurance- Home insurance- Boiler insurance- Landlord insurance- Builder's risk insurance - Flood insurance- Earthquake insurance- Terrorism insurance- Crop insurance- Windstorm insurance- Aviation and Marine insurance among others Property insurance covers the property itself and the contents in the property. Businesses, industries…
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Personal Injury

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Today the world has become full of dangers which affect young and old alike. You can be healthy today and become disabled suddenly due to a car accident, falling down the stairs, slip and fall, whiplash or due to workplace injuries. People need to protect themselves against these accidents by purchasing insurance. The premiums paid are much less compared to the medical expenses incurred and loss of income when a person suffers from personal injury.…
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Restoration

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Insurance is a field that deals with risk management applied by individuals, companies, corporations and other organizations. There are many hazards that we need to protect ourselves from but however much we try, the inevitable still happens at a time when we least expect. Hurricanes, floods, earthquakes and storms are natural disasters which can catch people unawares. People who live in areas prone to these dangers should protect themselves from financial losses which can result…
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Broker

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An insurance broker is the person who is licensed to analyze individuals and businesses in order to sell insurance coverage to them depending on the results of the analysis. Brokers have wider knowledge and experience relevant for underwriting insurance than agents. They also have higher education requirements than agents. The insurance broker does not have a contract with the insurance company and therefore has no legal obligation to them but are independent in their work.…
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Agent

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An insurance agent also known as an insurance sales agent is a person who acts on behalf of the insurance company and has a principal-agent relationship to sell insurance coverage. He is a representative of the insurance company which has authorized him to enter into contracts with clients. In his duties, the agent should carry out his work with care and diligence. The agent represents the insurance company by selling policies to clients to cover…
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Claim

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A claim is a formal application to the insurance company asking for compensation to be paid for an insured loss. Policyholders purchase insurance policies to protect themselves and their property against financial losses caused by unforeseen circumstances. Insurance companies insure policyholders for the risks that might cause financial loss in return for payment known as premium. When an insured event occurs the policyholder can file a claim. When the event is minor or when payment…
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